Serbinski Accounting Firms

Have you seen any cross-border sites that argue against TFSA being a trust? Among other points: "While a traditional trust involves a trustee who holds legal title to assets and manages them on behalf of beneficiaries, the financial institution administering a TFSA does not "hold title&quo...

Understood. Was hoping for a "yes" or a "no" answer but this'll do!

I'm a dual US/CDN expat wondering if I cash out an investment and pay cap gains tax on a 300k usd windfall (not real estate) in Canada, would there be any tax owing in the US b/c as a married person I'm above the FEIE?

This is very helpful. Much appreciated, Nelsona! Thanks for your service to this board.

Thanks. I was told by a woman who works at a SS office in Bellingham, WA., that the rule applied even after reaching full retirement age. I figured she knew what she was talking about b/c it's so close to the Canadian border. Wow, someone needs to better train their workers... 1823.3Are benefits wit...

Having a hard time getting a straight answer on this question: if I'm over 65, start collecting SS while residing in Canada and want to work-- I was told there's a rule that applies to expats that if they work over 45 hours <even after hitting full retirement age> there's a penalty similar to WEP wh...

Ok, thx for your input!

It says so on the link as well. "The spouse of an individual who files an FBAR is not required to file a separate FBAR if the following conditions are met: (1) ALL the financial accounts that the non-filing spouse is required to report are JOINTLY OWNED with the filing spouse. If she has a few ...

As a non-rsident expat, I file FBAR's regularly. I always report every joint account with my wife on my form. I've only reported her separate accounts on her form. I just found out this is incorrect-- I should have been reporting the every joint account she shares with me on her form. Double-reporti...

Thanks Nelsona. Your efforts here are really appreciated.

[quote="nelsona"]It should be pointed out that this information applies to those who have FAILED to file FBAR in a timely fashion. Our poster is asking aboiut filing an INACURATE FBAR. The method of amending an FBAR is simple, and does not require proving you were an ignorant, uneducated b...

[quote="graubart"]Some of the reasons listed here on the IRS website may apply to you: http://www.irs.gov/uac/Information-for-U.S.-Citizens-or-Dual-Citizens-Residing-Outside-the-U.S.[/quote] Yes, I've seen that, thanks. I'm wondering if anyone here has actual experience with sending in a l...

Greetings all, US citizen resident of Canada. I am about to submit amended FBAR's for the last five years because I inadvertently left out a couple of low balance bank accounts including some RRSP's (under $1,000). BTW, I have just submitted 8891's for these retroactively. My question is, according ...